Locking devices having either a rigid-type shackle or a flexible shackle, such as a chain or cable, are occasionally violated by forcing open the lock or by either cutting the shackle or the lock body. In order to alert persons within the vicinity to the fact that the security of the locking device is violated, alarms, such as a horn, have been associated in the past with the locking device. Devices of this type, as used in the past, were not particularly satisfactory in that the alarm systems, in general, were designed so that the power of the battery was used continuously, with the result that the battery had a short life and the alarm system was only operable for relatively short periods of time. In addition, devices of this type, as used in the past, normally did not include a test feature in which the unit could be tested to determine whether the battery was still operable. As a further disadvantage, the prior art locking devices having alarm features would only operate the alarm if the shackle was severed, and the alarm would not be actuated if the security of the device was violated by either cutting the lock or by prying the shackle out of the body.